The most recent reports prepared by the Bureau of Labor Statistics point to a reassuring fact for all: the economy seems to be on a steady path to recovery. Compared to one year ago, the economy has made tremendous gains.
According to the most recent BLS report, “Two hundred ninety-nine metropolitan areas had over-the-year increases in nonfarm payroll employment, 59 areas had decreases, and 14 areas had no change. The
national unemployment rate…was 6.8 percent, not seasonally adjusted, down from 7.6 percent a year earlier.”
The increase in employment rates in metropolitan areas should be seen as great news to any entrepreneur. Higher levels of employment allow for the potential to increase consumer demand for a product or service.
When taken across state lines, the employment data continues to look positive. “Over the year, 26 states had statistically significant changes in employment, all of which were positive. The largest over-the-year job increase occurred in California (+325,100), followed by Texas (+310,000) and Florida (+225,100),” BLS reported.
The good news however, comes with a few caveats. The report notes that, “The West continued to have the highest regional unemployment rate, 7.2 percent, while the South again had the lowest rate, 6.0 percent.”
The take-away from these figures for small to medium-sized businesses is that the worst seems to be over, and the economy seems to be on the path to recovery. With that being said, it also indicates that now is the ideal time to consider expanding or appealing to the growing consumer demand across most states and metropolitan areas.
Elaine Pofeldt, a contributor to Forbes notes that, “It’s finally time to reap some of the rewards of sticking it out during the scary and uncertain days many of us faced since the global financial collapse. This year will be the best one to run a business that we’ve seen in a long time. It’s also a very good time to start one.”
Pofeldt goes further to note that these businesses may suffer from blanks showing a reluctance to lend to entities with damaged credit entities, but “Armed with the capital [they can unlock], they can now focus their attention on growth.”
Capital Solutions can provide quick capital for businesses hoping to pursue smart growth. Eighty to ninety percent (80-90%) of an invoice or purchase order may be provided by Capital Solutions to business owners as a cash advance prior to payment by the customer. The remaining ten to twenty percent (10-20%) is held in reserve with the factor. When the payment is received, the factor releases the reserve less the charges incurred back to the company.
Capital Solutions can provide quick capital for businesses that want to boost their web presence. For more information, call 1-800-901-3299 or press the Contact tab.